#PaymentsIndustry #Amazon #NewITrules
Payments industry is indicative of innovations



Technology plays a catalytic role in the digital transformation which has also influenced the payments industry. Enterprises across industries are embracing innovative digital tools in an attempt to better understand customers and offer them a seamless and safe payments experience. The shift in the financial services space has been seismic as financial institutions that traditionally enabled the payments economy are no longer required to carry out financial transactions. Digital transformation has encouraged regulators, innovators, and providers to focus on cyber and data security.



It is imperative that innovation in the payments space goes hand-in-hand with security and necessary initiatives are taken to safeguard consumer data and interest. The digital backbone of the world’s second-most-populous country and largest democracy has continued to develop and create a fertile environment for innovation. The growth in the digital payments industry is indicative of the widespread impact of innovations. With ongoing technology disruptions, cloud will continue to evolve into a combination of hybrid and multi-cloud, driving greater choice for users. A report says, India reported 25.5 billion real-time payments transactions ahead of China’s 15.7 bn transactions in 2020. The report further noted that transaction volume share in India stood at 15.6% and 22.9% for instant payments and other electronic payments, respectively while paper-based payments had a considerable share of 61.4%.


Today's Headline in NewsHours
0:00 Intro
1:56 #Amazon suffers massive outage globally
2:32 #NewITrules will empower users, says #AshwiniVaishnaw
3:09 #CCI gives clean chit for #SoftBank $450 million investment in #Swiggy
3:47 High-speed #solarstorm expected to hit Earth's magnetic field to disrupt #GPS, #phonesignals
4:3.